NOTE I – STOCKHOLDERS’ EQUITY

In January 2024, the Company issued a total of 52,409 shares of the Company’s common stock upon the cashless exercise of 94,607 common stock purchase warrants by Mr. Stuart. Subsequently, the Company determined the fair value utilized to determine the number of shares issued was not indicative of recent common stock transactions. Accordingly, the Company recorded additional compensation expense of $262,045.

In January 2024, the Company issued a total of 28,738 shares of the Company’s common stock upon the cashless exercise of 51,875 common stock purchase warrants by ERI. Subsequently, the Company determined the fair value utilized to determine the number of shares issued was not indicative of recent common stock transactions. Accordingly, the Company recorded additional compensation expense of $143,690.

In January 2024, the Company issued a total of 59,504 shares of the Company’s common stock upon the exercise of 5,731 Warrants, 41,200 2023 Warrants and, 12,573 other common stock purchase warrants by a total of six investors at an exercise price of $5.00 per share for total proceeds of $297,520.

In January 2024, the Company issued a total of 119,943 shares of the Company’s common stock upon the cashless exercise of 179,272 common stock purchase warrants by thirteen investors. Subsequently, the Company determined the fair value utilized to determine the number of shares issued was not indicative of recent common stock transactions.  Accordingly, the Company recorded additional compensation expense of $368,465.

In May 2024, the Company issued 800 shares of the Company’s common stock upon the exercise of 800 2023 Warrants by one investor at an exercise price of $5.00 per share for total proceeds of $4,000.

In May 2024, in conjunction with the Company’s offer to existing warrant holders described in Note H, the Company issued a total of 70,923 shares of the Company’s common stock upon the exercise of 35,306 2023 Warrants and 35,617 other common stock purchase warrants by a total of eight investors, including ERI, at an exercise price of $5.00 per share for total proceeds of $354,615.

In July 2024, the Company issued 2,560 shares of the Company’s common stock upon the exercise of 2,560 2023 Warrants by one investor at an exercise price of $5.00 per share for total proceeds of $12,800.

In August 2024, the Company issued 3,000,000 shares of common stock to the president of the Company in exchange for 1,000 shares of Series C Preferred Stock in accordance with that certain exchange agreement, dated October 6, 2022, as amended on November 15, 2022 and July 30, 2024.

In August 2024, the Company issued a total of 5,005 2024 Warrants along with 5,005 shares of common stock upon the conversion of $25,000 of 2024 Notes and $26 of accrued interest. The total value of the 2024 Warrants was $25,021 and was recorded as additional paid in capital.

During November 2024, the Company issued a total of 1,200 shares of common stock to one vendor for services rendered for total stock compensation recorded of $3,360.

During the year ended December 31, 2024, the Company issued a total of 56,250 shares to the Company’s directors as compensation valued at $281,250 for services performed during 2024 with an additional $93,750 recorded as compensation for an additional 18,750 shares accrued for at year end December 31, 2024. The shares accrued for at year end were then issued during January 2025.

In March 2025, the Company issued a total of 5,262 2024 Warrants, 25,000 2025 Warrants, and 30,262 shares of the Company’s common stock to one investor upon the conversion of $25,000 of 2024 Notes along with $1,308 of accrued interest and $25,000 of 2025 Notes. The value of the warrants was $35,781 and was recorded as additional paid in capital.

In April 2025, the Company issued a total of 20,000 2025 Warrants and 20,000 shares of the Company’s common stock to two investors upon the conversion of $20,000 of 2025 Notes. The value of the warrants was $4,626 and was recorded as additional paid in capital.

In June 2025, the Company issued a total of 40,000 2025 Warrants and 40,000 shares of the Company’s common stock to Mr. Stuart and his affiliate upon the conversion of $40,000 of 2025 Notes. The value of the warrants was $11,003 and was recorded as additional paid in capital.

During the six months ended June 30, 2025, the Company recorded total stock compensation of $187,500 for shares earned by the Company’s directors as compensation for services performed during 2025. 18,750 of these shares were issued during April 2025 and 18,750 of these shares, with a value of $93,750, were accrued as of June 30, 2025.